15th January 2026 > > The demise of The CLARITY Act.

tl;dr

The CLARITY Act is not going to provide clarity anytime soon.

Market Snap

Market Wrap

$840bn inflows to the spot BTC ETFs yesterday giving us a total of $1.7bn this week alone. Much more of this, and you know what is going to happen.

Curious Crypto’s Commentary – Bitwise survey

I don’t think I need to add much more, do I?

Curious Crypto’s Commentary – The CLARITY Act

After the publication of the amended draft yesterday (https://www.curiouscryptos.com/post/14th-january-2026-the-clarity-act-again) by the Senate Banking Committee, it is rumoured that today’s hearing to finalise this version of the act (the Senate Agriculture Committee will produce its own version in the last week of January) will be delayed for an unspecified period of time. Bloomberg reporter Steven Dennis posted on X:

“Lummis tells me her recommendation and expectation is that the markup be pulled for now. It’s Banking Chair Tim Scott’s call.”

The cause of this screeching about turn – so rapidly was it executed it has gained the official approval of some of the UK’s leading politicians who have promised to emulate it as often as possible – is the withdrawal of support for the amended bill yesterday by Coinbase, and specifically its CEO Brian Armstrong:

That is a touch more of a negative view than the brief analysis offered by the CCC yesterday, though in our defence Coinbase does have a team of highly specialised lawyers who are handsomely paid to understand in detail all 278 pages of the latest draft. Something has gone seriously wrong in the consultation process for Brian to be so publicly disdainful.

The schedule for The CLARITY Act’s passage onto the statute book is now nearer the back end of 2026, and no longer the front end, to the delight of the TradFi industry, and naysayers wherever they may be.

Curious Crypto’s Commentary – STOP PRESS

Whilst writing this commentary, Chair of the Senate Banking Committee Senator Tim Scott confirmed the rumoured delay:

That's annoying.